2023-05-02 16:15:09 ET
- Herbalife press release ( NYSE: HLF ): Q1 Non-GAAP EPS of $0.54 misses by $0.16 .
- Revenue of $1.25B (-6.7% Y/Y) beats by $30M .
- Significant progress with the Company’s Transformation Program, actions to date result in approximately $35 million of savings in 2023; on track to exceed $70 million of total program run rate savings in 2024 and beyond
- One-time pre-tax expenses of approximately $27 million recognized during first quarter related to the Company’s Transformation Program impacted reported financial results
- In April, the Company amended its Senior Secured Credit Facility to increase the gross leverage ratio covenant, which provides greater financial flexibility to make investments in key initiatives; the Company was compliant with all debt covenants as of March 31, 2023.
- Outlook: Given the continued dynamic macroeconomic backdrop, the Company is not providing guidance. The Company will periodically reassess its ability to provide guidance when we believe future performance can be reasonably estimated.
- Shares -2.39% .
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Herbalife Non-GAAP EPS of $0.54 misses by $0.16, revenue of $1.25B beats by $30M